I just ran a quick test (n>=3) using the Graph API Explorer, alternating between the API call and the FQL below.
This API call:
/me/friends?fields=name,gender
returned data from 300ms to 6223ms, avg = 1780ms.
This FQL call:
SELECT name, sex FROM user WHERE uid IN (SELECT uid2 FROM friend WHERE uid1 = me()) AND sex = "male" LIMIT 10
returned data in 457ms to 8075ms, avg. 3690ms.
So the API call is about 20-30% faster than the FQL call, although the data doesn't match up, so it's really a crap shoot whether the API call will execute faster than the FQL call at any given time.
With the API call you still have to deal with filtering the results on your end to find 10 friends of the gender you're looking for. With FQL you can immediately loop through the result set and display them.
For what it's worth, if you compare an FQL call with everything from the AND on removed, so you're getting similar data to the API, that beats the API easily. Data is returned in 320 to 571 ms, avg. = 390ms.